Petrol Raises Dividend to 10.1 Euros

Slovenia's largest fuel retailer Petrol will pay a dividend of 10.1 euros per share this year, up from 10 euros paid last year, after a shareholder vote on Thursday.

The dividend is higher than 9.1 euros per share proposed by the management of Petrol in March because shareholders supported a proposal for a higher dividend by the state investment fund SOD, which is Petrol's largest owner with 19.75 percent.

SOD's proposal was in line with the government's announcement in March that it would raise dividends in firms that are fully or partially owned by the state to increase the budget income.
 

Slovenia, which narrowly avoided an international bailout last year, plans to reduce its budget deficit to 4.2 percent of GDP this year from 14.7 percent of GDP in 2013 when the deficit was boosted by state recapitalisation of local banks.
 

Petrol, which operates some 476 filling stations in Slovenia, Croatia, Bosnia, Serbia, Montenegro and Kosovo, in March reported a 2 percent fall in group net profit in 2013 to 52.8 million euros.

(Reporting By Marja Novak. Editing by Jane Merriman)